Oct 16, 2022
Last week, the Federal Reserve opened up its swap lines to the Swiss National Bank to the tune of over $6 billion. The $6.3 billion draw comes on the backs of about $3 billion just one week earlier.
To put this in context, this is more than the Swiss National Bank drew from the Fed swap lines during 2020. So, number one, what are these swap lines How do they work? And number two, why in the world does the Swiss National Bank need $9 billion right now?
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